Prime Mumbai properties maintain value despite falling rentals, with landmark buildings like Cadbury House and Citi Centre changing hands. Investors favor leased properties with strong track records, impacting even suburban markets.
Mumbai's rental values dipped slightly in Q3 2023, with Lower Parel, Thane, and Navi Mumbai seeing the most leasing activity. Key business districts witnessed a decline in commercial leasing.
Mumbai commercial realty outperforms NCR, offering higher investment returns, according to Knight Frank. This is attributed to favorable business conditions, talent access, and connectivity.
Developers in Mumbai are slashing prices for new launches by up to 15% to stimulate home sales amid sluggish market conditions, aiming to attract buyers.
Air India's plan to lease vacant floors in its Nariman Point headquarters faces challenges due to tough market conditions, but the Civil Aviation Minister remains confident. The plan aims to raise funds by leasing or selling properties in Delhi and Mumbai.
Mafatlal Industries plans to sell an 85,000 sq ft property in central Mumbai to revive its operations, with bidding expected to start soon.
Peninsula Land plans to raise ₹500 crore through QIP to acquire land in Mumbai, focusing on Parel, Lower Parel, Kanjurmarg, and Thane.
Indiabulls Real Estate extends REIT float in Singapore due to poor retail investor response, despite institutional oversubscription.